CorMedix (NASDAQ:CRMD) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of CorMedix (NASDAQ:CRMD) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

Several other equities research analysts have also recently weighed in on the stock. Leerink Partnrs upgraded shares of CorMedix to a “strong-buy” rating in a research report on Friday, March 7th. Leerink Partners assumed coverage on CorMedix in a report on Friday, March 7th. They set an “outperform” rating and a $18.00 price target for the company. D. Boral Capital reissued a “buy” rating and issued a $15.00 price objective on shares of CorMedix in a research note on Tuesday, March 25th. Royal Bank of Canada restated an “outperform” rating and set a $12.00 target price on shares of CorMedix in a research report on Wednesday, March 26th. Finally, Needham & Company LLC lowered their target price on CorMedix from $18.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $15.14.

CorMedix Stock Performance

Shares of NASDAQ CRMD opened at $6.07 on Tuesday. The firm has a 50 day moving average price of $10.19 and a two-hundred day moving average price of $9.92. The stock has a market cap of $395.65 million, a P/E ratio of -7.49 and a beta of 1.53. CorMedix has a 52-week low of $3.61 and a 52-week high of $13.85.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.05. The company had revenue of $30.00 million during the quarter, compared to analyst estimates of $27.46 million. CorMedix’s revenue for the quarter was up 29900.0% compared to the same quarter last year. Analysts predict that CorMedix will post -0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in shares of CorMedix by 1.9% in the 4th quarter. Bank of America Corp DE now owns 60,115 shares of the company’s stock worth $487,000 after purchasing an additional 1,124 shares in the last quarter. FMR LLC raised its holdings in CorMedix by 54.3% during the third quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after buying an additional 1,625 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in CorMedix by 1.0% during the fourth quarter. Nuveen Asset Management LLC now owns 171,978 shares of the company’s stock worth $1,393,000 after buying an additional 1,679 shares during the last quarter. AlphaMark Advisors LLC lifted its stake in shares of CorMedix by 16.7% in the fourth quarter. AlphaMark Advisors LLC now owns 14,000 shares of the company’s stock valued at $113,000 after buying an additional 2,000 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of CorMedix by 2.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 149,834 shares of the company’s stock valued at $1,214,000 after buying an additional 3,221 shares during the last quarter. 34.18% of the stock is owned by institutional investors and hedge funds.

CorMedix Company Profile

CorMedix Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases in the United States. Its lead product candidate is DefenCath, an antimicrobial catheter lock solution to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure.